Bizmark, Inc. v. Industrial Gas & Supply Co., Inc.

OPINION AND ORDER

JONES, Chief Judge.

In this action for the balance of the deferred purchase price under a commercial asset purchase agreement, I find that the applicable statutes of limitations bar certain of the amounts claimed. In addition, I find that the notice condition of an indemnity clause in the agreement is not applicable.

I

Bizmark, Inc. (“Bizmark”), Roy L. Wells, Jr., Roger N. Wells, Industrial Gas & Supply, Inc. (“Industrial”), and David Luther (“Luther”) entered into an Asset Purchase Agreement dated June 30, 1995 (“Agreement”). By the terms of the Agreement, Bizmark promised to…